As we approach the second half of 2024, investors are keen on identifying stocks with the potential to outperform the market. Wall Street analysts have highlighted several companies that are expected to see significant gains in the upcoming months. With the S & P 500 reaching record levels and many investment firms increasing their year-end forecasts, it is essential to examine these potential opportunities carefully.
Warren Buffett’s Berkshire Hathaway is among the top picks for outperforming stocks in the second half of the year. With a projected rise of 20.8% over the next 12 months and a 13% increase year to date, the Class B stock presents an attractive opportunity for investors. Analysts have rated the stock as a buy or a strong buy, with three out of four analysts endorsing it. Argus recently upgraded the conglomerate’s shares, highlighting its cheap valuation and strong financial strength.
Disney, another favorite among Wall Street analysts, is expected to rally nearly 25% in the next 12 months. The company’s parks segment continues to show healthy demand trends, reinforcing analyst optimism. Around three-quarters of analysts covering the stock have given it a strong buy or buy rating, with shares already up 12% in 2024. Disney’s diversified portfolio and strong brand presence make it an appealing choice for investors looking for growth opportunities.
Despite the underperformance of the energy sector compared to the broader market, certain energy stocks are poised to outperform in the second half of the year. Coterra Energy, for instance, is projected to rally 26.5% despite being up less than 5% in 2024. UBS has named it as one of its favorite energy and utilities picks, indicating confidence in its future performance. Analysts have issued strong buy or buy ratings on two-thirds of Coterra’s coverage, pointing to its growth potential.
Oil giant Chevron is another energy stock expected to outperform in the upcoming months. With a forward P/E ratio below its 5-year average, Chevron shows potential for growth ahead. The company’s strategic acquisitions and ongoing battles with competitors like Exxon Mobil in lucrative markets like Guyana position it well for future success. Despite only a 2.8% increase year to date, Chevron’s prospects remain promising for investors seeking long-term gains.
The stocks highlighted by Wall Street analysts demonstrate strong potential for outperformance in the second half of 2024. Investors should conduct their own research and consider factors such as market conditions, company fundamentals, and analyst recommendations before making investment decisions. By staying informed and analyzing opportunities critically, investors can capitalize on the growth potential of these promising stocks in the months ahead.
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